AR & AI Based Vehicle Insurance Claim Approval
Description
Using AI technology to automate a visual task, such as inspecting damage to a car. The customer could snap pictures of all sides of the car with their smartphone and upload the pictures into a new experimental app we’re creating that detects auto damage. Image classification AI within the app compares the customer’s photos with thousands of other anonymized crash photos to generate a cost estimate for their repair. Not only does this save time for customers, particularly in the case of a minor accident, but it also reduces uncertainty and worry during a stressful time
Business
- The business is into providing vehicle insurance
- They receive multiple insurance claim applications every day for damaged caused to the car.
Problem
- Inaccurate analysis of damage to the cars
- Time required to analyze the damage and respective claim amount approval.
- gathered information has many faulty and missing data due to traditional ways of doing it.
What Worked
- Integrated AR & AI to capture the vehicle images and fetching the specific data from the backend to analyze and predict.
- Past Data is been mined and segregated from each system involved in the end to end process and categorized.
- Images are being compared with the previous images fed to the system and based on that, data are processed using various algorithms and methodologies to predict closest possible claim values precisely.